SAWT BEIRUT INTERNATIONAL

| 2 October 2022, Sunday |

Adnoc awards $946m contract to NPCC for Umm Shaif field development

Abu Dhabi National Oil Company has given a Dh3.47 billion ($946 million) contract to Abu Dhabi’s National Petroleum Construction Company (NPCC) to expand its offshore Umm Shaif field, bolstering the company’s production capacity ambitions of 5 million barrels per day by 2030.

Adnoc Offshore was awarded the contract, which covers the engineering, procurement, fabrication, installation, and commissioning activities required to maintain Umm Shaif’s crude oil production capacity of 275,000 barrels per day, increase efficiencies, and enhance the field’s long-term potential, according to a statement issued by Adnoc on Wednesday.

“This significant award for the long-term development of Adnoc’s pioneer offshore Umm Shaif field will maximize efficiencies while maintaining future output and supporting Adnoc’s strategic goal of 5 million barrels of oil production capacity per day by 2030,” said Yaser Almazrouei, executive director of Adnoc Upstream.

“The Umm Shaif expansion plan reinforces Adnoc’s commitment to maintaining its position as a leading low-cost oil producer and maintains our role as a reliable energy provider to clients worldwide.”

According to the corporation, more than 75% of the overall contract value will flow back into the UAE economy through Adnoc’s In-Nation Value (ICV) initiative, guaranteeing that greater economic value remains in the country from the contracts it awards.

The contract for engineering, procurement, and construction, which is set to be finished in 2025, comprises two packages for network expansion and new well-head towers.

The first package consists of upgrades and extensions to existing facilities, as well as the installation of new subsea cables and pipes for de-bottlenecking.

The second package comprises the design of three lean well-head towers as well as new pipes.

According to Adnoc, the deal includes “fit for the future” technology like rig-less electrical submersible pumps and other digital field technologies that will boost efficiency while preserving present production capacity.

“This deal is a key contributor to Adnoc Offshore’s ambitions as we increase our production capacity to over 2 million barrels per day over the next several years in support of Adnoc’s smart development strategy,” said the company “Adnoc Offshore’s CEO, Ahmad Al Suwaidi, stated.

“The award is the result of a highly competitive bid process that includes a comprehensive assessment of how much of the contract value will promote the expansion and diversification of the UAE’s economy through Adnoc’s ICV Program.”

    Source:
  • The National News